Sports consumption upgrading of the industrial concern four main investment
2014-09-10 Source: Shanghai Securities News
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Premier Li Keqiang September 2 chaired a State Council executive meeting, the meeting noted that the development of the sports industry, sports products and enhanced supply, which will help stimulate consumption, expanding domestic demand and employment; to a decentralization, put the tube combination of commercial and masses canceled sporting event approval, relaxing event broadcast rights restrictions, promote the reform of professional sports, encourage the development of professional league; Second, we must revitalize and promote existing public sports facilities open to the public, improve self-operational capacity, improve taxation, pricing, planning and land policy support social forces to run for public sports and fitness venues; Third, we must optimize the market environment to support the sports business grow and accelerate professional training, promote physical fitness and health, cultural integration development, to develop sports tourism, sports rehabilitation and fitness training, sports services.
Accelerate the development of sports industry consumption upgrade speed
China sports current low level of industrialization, in 2013 the output value of 313.595 billion sports, GDP accounted for 0.6%, the United States is only 1/4; 1/10 PE value for the United States, per capita output value of the US sports 1/40. Per capita GDP and income increase, the rise of the modern consumer to upgrade services to promote the occasion demands, a huge space of domestic sports industry. Prior to the development of 80% dependent on sporting goods, clothing and footwear and other related industries, sports, professional clubs, fitness training and other projects yet to market, compared with developed countries, to enhance the huge space; sports industry ushered in the dawn of the policy.
In 2010, "the State Council on Accelerating the guidance of sports industry," proposed the development of sports and fitness market, and the development of athletic sports performance market, cultivating sports intermediary market, and stronger sporting goods industry; in 2011, "the development of sport," second five-Year "plan" also pointed out that to develop mass education and sports industry. And after the State Council to deploy the development of sports industry, we predict there will be more follow-up policy launched.
"Cancel event approval, relaxing event broadcast rights restrictions, to encourage the development of professional league, to promote sports services" is a prerequisite for promoting the consumption of sports development. A new round of the process of industrialization, event management, professional clubs operating, fitness training, sports core operations eligible breakthrough will stimulate residents' sports consumption, thereby amplifying the peripheral industrial scale (sporting goods manufacturing and retail, sports betting, sports media, sports and other intermediaries ).
According to sub-sectors subject to find the focus of four promising areas
From an investment perspective, we believe that the basis of race operations with bigger and stronger (+ individual events to enhance the size of a number of events lateral copy), but also led to bigger events related to development of sports industry (retail, media, tourism, catering, etc.) ; the club itself profitability volatile, it may have a high return on investment business model, improve performance through competition so as to realize advertising, tickets, event broadcast rights promotion; large fitness training and development space, professional, modern fitness training in line with the consumer upgrade trend, can effectively resist the impact of the Internet.
From the perspective of investment strategy, according to the division of different sub-sectors of the sports industry to find investment targets, and we focus on promising four areas: first, the sporting events. Lansheng shares (Lansheng event management company); second, physical fitness. Nobutaka Industry (fitness equipment sales accounted for 30%); third, professional clubs. SBS shares (Fujian SBS men's basketball), Yatai Group (Changchun Yatai football team); fourth, the sports media. Watch music (music as sports), Zhejiang newspaper media (CLEVELAND).